On August 5th, SAIC Motor and General Motors signed a joint venture renewal agreement in Shanghai, extending the term of SAIC-GM by 20 years until 2047. SAIC Motor President Jia Jianxu and General Motors Global Senior Vice President and GM China President Luoxu signed the contract on behalf of both parties.
The original joint venture agreement for SAIC-GM was signed on October 31, 1995, with the company officially established in June 1997. The initial contract was for 30 years, set to expire in June 2027, and this renewal was completed nearly one year ahead of schedule.
Earlier, SAIC Volkswagen extended its partnership to 2040, and Guangqi Honda extended to 2038. The direct 20-year extension for SAIC-GM sends a clearer signal of long-term cooperation.
The focus following the renewal is on local research and development, as well as overseas markets. SAIC Motor disclosed on August 5th that both parties will support a locally-led R&D team and promote products that are defined, developed, and manufactured in China to serve global markets. Compared to the previous joint venture model focused on product imports and local adaptation, the role of the Chinese team in product development has been further strengthened.
As a technological foundation for this transformation, the Pan Asia Technical Automotive Center has launched the "Xiaoyao Super Fusion Architecture," developed by the Chinese team. This architecture is compatible with three powertrain routes: pure electric, plug-in hybrid, and extended-range, and covers vehicle types such as sedans, SUVs, and MPVs. Buick's high-end new energy sub-brand, "Zhijing," has already begun laying out products based on this architecture.
According to the plan, by 2030, SAIC-GM will launch at least 30 new energy vehicle models. The Buick Zhijing E7 is scheduled for export overseas in October this year, making it SAIC-GM's first high-end new energy vehicle to go abroad, with subsequent expansion into markets including the Middle East, Africa, South America, and Asia-Pacific.
The renewal did not alter the 50:50 shareholding structure of the joint venture.
Both parties completed the renewal during a period of continuous improvement in their China business. According to General Motors' Q2 2026 financial report, its China business continued to be profitable. SAIC-GM recorded full-year terminal sales of 562,000 vehicles in 2025 and has maintained profitability for five consecutive quarters.
The new energy vehicle business has been the primary recent growth driver. In the first half of 2026, SAIC-GM sold nearly 50,000 new energy vehicles, a year-on-year increase of 81.1%. The Buick Zhijing E7 achieved over 10,000 deliveries in its first month on the market, setting a record for the fastest delivery volume to reach 10,000 units among joint venture new energy models.
The transformation still needs to deliver results in sales volume. The July 2026 production and sales report from SAIC Motor shows that SAIC-GM sold 34,800 vehicles that month, a year-on-year decline of 17.7%; cumulative sales from January to July were 265,900 vehicles, down 7.45% year-on-year.
SAIC-GM's cumulative sales have exceeded 24 million vehicles. Entering the next 20 years, its re-establishment of growth will rely on local R&D and overseas markets.
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